Oslo, November 10, 2016 – Wallenius Wilhelmsen Logistics reaches settlement with The Brazilian Administrative Council for Economic Defence
In February 2016, The Brazilian Administrative Council for Economic Defence (CADE) announced a probe into alleged anti-competitive behaviour involving the car carrying industry. Wallenius Wilhelmsen Logistics (WWL) was one of nine companies mentioned in the announcement at the time. The company has cooperated fully throughout the investigation and has now entered into a settlement agreement with CADE.
Through this agreement, WWL enters into a Cease and Desist Commitment whereby the company agrees to cooperate fully and permanently with CADE in every aspect of the investigation and to pay a BRL 12.7 million (ca USD 3.9 million) fine.
As a part of the settlement, all charges against WWL are dropped.
WWL is committed to fair business practices and will continue to cooperate with CADE in good faith.
WWL works continually to meet the highest ethical standards. Over the past years, the company has:
- further strengthened its competition compliance process and procedures, appointing a Global Compliance Officer to oversee and manage regulatory compliance issues, as well as Compliance Managers for its respective divisions and in all main markets
- supplemented and enhanced the Competition Compliance Manuals for several jurisdictions, including China, Japan, South Africa and Korea;
- reinforced training on the Competition & Anti-Trust Policy that outlines the company’s requirements for compliant industry communication and documentation;
- introduced an Ethics Alert Line to encourage reporting of any non-compliant behaviour
WWL continues to monitor the development of anti-trust regulations on a global basis and to make sure that all such regulations are fully observed.
Anna Larsson, President’s Office
Tel: +47 484 06 919